Investors pumped record cash into stock market.. What ‎companies do they prefer?‎

Individual investors pumped record amounts of $1.5 billion per day into the stock market, while US electric car maker Tesla remained the favorite among the stock group, with total retail inflows to the stock of $9.7 billion so far in 2023.

Retail investors snapped up stocks at the fastest pace ever as US stock markets rose to start the year. Over the past month, retail investors have moved an average of $1.51 billion per day into US stocks, the highest amount ever recorded, according to data from research firm VandaTrack.

“Recent surveys show the institutional investor community remains broadly bearish on equities, but it would be unwise to underestimate the importance of the retail group,” the research firm’s strategists said in a note. This aligns with retail sales and jobs data for January, which indicates that consumers retain impressive levels of purchasing power.

According to the report, shares of the electric car giant rebounded after closing their worst year ever in 2022. Tesla shares rose 74% in 2023 as of Wednesday’s close.

Followed by SPDR S&P, Amazon, Apple and Nvidia took the next top positions, receiving $1.8 billion, $1.7 billion and $1.4 billion in inflows this year, respectively. These names rose by 20%, 19.5%, and 55.8% this year, in that order.